The evolution of social outcomes partnerships in the UK: Distilling fifteen years of experience from Peterborough to Kirklees

The evolution of social outcomes partnerships in the UK: Distilling fifteen years of experience from Peterborough to Kirklees

Perspectives from across academia, policy and practice

Nearly fifteen years since the world’s first social impact bond was launched at HMP Peterborough in England, the impact bond model has been stretched and flexed to fund a growing array of social programmes across health, employment, education, social care and many more. Alongside this adaptation, we have also seen a shift in how this funding model is used and understood.

Yet for many beyond the immediate community working on these cutting-edge partnership projects, social impact bonds still equal the Peterborough SIB. This means that the understanding of the practice, potential and proof of impact of these innovative approaches remains fragmented and partial. Significant opportunities for public sector reform and systemic change will be missed as long as a fog of baffling terminology and mis-interpretation clouds how we see the role of outcomes and effective cross-sector in tackling the acute public services crisis the country faces.

This report brings together perspectives from across academia, policy and practice to take stock of UK’s experience with impact bonds over the past 15 years, to help inform and inspire best practice across the globe.